BMW and PSA/Peugeot-Citroen Tuesday officially launched their joint venture, BMW Peugeot Electrification, to develop new electric powertrains and components for use in future models. The newly formed company aims to star building hybrid components from 2015 and open technology platform for electric powertrains that will give European industry a decisive boost.
The two car groups are investing more than 100 million euros in a jointly operated r&d center in Munich, where BMW is headquartered. Around 400 employees will work at the new Research and Development Centre in Munich by the end of 2011. The hybrid components designed there will be manufactured at the facility in Mulhouse in France, which will have around 250 employees once ramp-up is complete.
“The BMW Group and PSA Peugeot Citroën are following a joint path with clear and ambitious goals,” explained the Chairman of the Managing Board of BMW Peugeot Citroën Electrification Wolfgang Güllich. “We want our company to be one of the leading suppliers in the field of electric powertrains over the next years.
The two companies plan to sell the technology and their products to third parties as well as using them on their own vehicles.
BMW and PSA have cooperated since 2002 in several area. PSA has built engines that are used in several BMW models and the two companies are jointly developing a new generation of 4-cylinder gasoline engines.